Domestic oil inventories declined for a second consecutive week, falling by 400,000 bbl during the period ended May 7 and keeping stocks below the five-year average, the U.S. Energy Information Administration (EIA) said Wednesday. Stocks plunged by 8.0 million bbl — excluding those in the Strategic Petroleum Reserve – a week earlier as year/year demand…
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U.S. Crude Stocks Plummet as Imports Drop, Exports Jump and Production Holds Steady, EIA Says
Domestic crude oil inventories dropped by 8.0 million bbl last week, the U.S. Energy Information Administration (EIA) said Wednesday, bringing stocks below the five-year average for the first time in 2021. It also marked the first decline in three weeks and the biggest drop since January. It materialized as imports plunged in the week ended…
Domestic Oil Inventories Increase as Imports Rise; OPEC-Plus Sticks With Production Bump
U.S. oil stocks increased for a second consecutive week, albeit modestly, despite a bump in demand alongside a recovery in economic activity and ongoing coronavirus vaccine rollouts. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said Wednesday that crude inventories for the week ended April 23 — excluding those in…
Domestic Crude Inventories Climb, Ending Streak of Declines, EIA Says
As demand eased, stockpiles of U.S. oil increased last week and ended a previous three-week run of inventory decreases, federal data show. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said domestic crude inventories for the week ended April 16 rose by 600,000 bbl from the previous week. The total,…
Domestic Crude Stocks Dip Again; IEA Says Global Oil Demand Outlook Brightens
U.S. crude stockpiles declined for a third straight week as domestic demand increased, federal data released Wednesday show. A separate global forecast, meanwhile, pointed to increased oil consumption through 2021, as coronavirus vaccination programs gain momentum and economic activity increases. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said domestic…
Crude Inventories Decline Even as Overall Demand Sputters, EIA Says
U.S. oil inventories shrunk for a second consecutive week despite a demand drop amid a gradual recovery in economic activity and mixed coronavirus vaccine rollouts. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said Wednesday crude inventories for the week ended April 2 — excluding those in the Strategic Petroleum…
As Demand Recovers, Oil Inventories Decline for First Time Since February, EIA Says
U.S. oil inventories decreased for the first time in five weeks as demand rebounded, the U.S. Energy Information Administration (EIA) said Wednesday. In its Weekly Petroleum Status Report, EIA said crude inventories — excluding those in the Strategic Petroleum Reserve — fell by 900,000 bbl from the previous week. Still, at 501.8 million bbl, U.S.…
As Demand Eases and Production Ticks Up, U.S. Oil Inventories Rise Again, EIA Says
Domestic crude oil inventories increased by nearly 2 million bbl last week, the U.S. Energy Information Administration (EIA) said Wednesday, marking a fourth-straight week of swelling stocks amid lingering demand weakness. In its Weekly Petroleum Status Report (WPSR), EIA said overall demand in the week ended March 19 fell 1% week/week and was off 4%…
Stockpiles of U.S. Crude Mount; IEA Says Global Oil Demand Recovery Gradual Through 2023
U.S. oil inventories increased for a third-consecutive week as demand for travel fuels remained light and as refinery activity, while increasing, held far below capacity following the blast of winter weather that froze the Texas energy grid in February. Domestic commercial crude inventories for the week ended March 12 — excluding those in the Strategic…
As Demand Flattens and Production Ticks Up, U.S. Crude Oil Inventories Swell, EIA Says
Domestic crude oil inventories increased by more than 20 million bbl last week, the U.S. Energy Information Administration (EIA) said Wednesday, as demand leveled off, production rose and Gulf Coast refinery utilization rates nosedived. In its Weekly Petroleum Status Report (WPSR), EIA said overall demand in the week ended Feb. 26 ticked up 0.4% week/week…